Record profit for Austin

Austin Engineering
lifted net profit 30 per cent to $19.26 million in the 12 months to June 30. Revenue fell 20 per cent to $144 million. Basic earnings per share were 28.25¢, down from 31.39¢. Final dividend has been increased from 6.5¢ to 7.5¢, fully franked, and total dividend for the year is 9.5¢, up from 8¢. Directors said improved efficiencies across the Australian operations during the year, due to larger orders and higher capacity utilisation, were key factors behind the record profit.